CBO's Budget and Economic Outlook—usually produced in January each year and updated in August—includes projections of spending and revenues under current law over the next 10 years as well as an economic forecast for that period. CBO also typically prepares an update of its budget projections in March each year in conjunction with its analysis of the President's budgetary proposals. Those projections under current law provide the Congress with a benchmark against which to measure the effects of proposed changes in spending and tax laws.
Budget and Economic Outlook
featured work
Updated Budget Projections: Fiscal Years 2013 to 2023May 2013 - A robust increase in revenues projected over the next few years will help shrink deficits through 2015. But deficits are projected to rise later in the decade, partly because of pressures of an aging population and rising health care costs.
The Budget and Economic Outlook: Fiscal Years 2013 to 2023Feb 2013 - Under current law, federal debt will stay at historically high levels relative to the economy, CBO projects. Economic growth will be slow in 2013 but pick up thereafter. Even so, the unemployment rate will be above 7.5 percent through 2014.
Choices for Deficit ReductionNov 2012 - Putting the federal budget on a more sustainable path is likely to require a combination of policies, many of which may stand in stark contrast to policies now in place.
Economic Effects of Policies Contributing to Fiscal Tightening in 2013Nov 2012 - Significant tax increases and spending cuts are slated to take effect in January 2013, sharply reducing the federal budget deficit and causing, by CBO’s estimates, a decline in economic output and an increase in unemployment.
Long-Term Budget OutlookJun 2012 - The explosive path of federal debt under the fiscal scenario that many budget analysts believe is more representative of fiscal policies that are now or have recently been in effect underscores the need for large policy changes to put the federal government on a sustainable course.
The U.S. Federal BudgetDec 2011 - CBO published an infographic that provided an overview of the federal budget in fiscal year 2011. The agency has released three additional infographics that provide a more detailed look at federal revenues and at mandatory and discretionary spending in 2011.
latest work
Some Information on Upcoming CBO Reports
blog postJune 13, 2013CBO’s Plan for Its Major Periodic Reports This Year
reportJune 13, 2013Federal Debt and the Statutory Limit, June 2013
reportJune 11, 2013Comparing Budget Plans
blog postMay 17, 2013Social Security Trust Fund—May 2013 Baseline
data or technical informationMay 14, 2013Social Security Old-Age and Survivors Insurance—May 2013 Baseline
data or technical informationMay 14, 2013Pension Benefit Guaranty Corporation—May 2013 Baseline
data or technical informationMay 14, 2013Supplemental Nutrition Assistance Program—May 2013 Baseline
data or technical informationMay 14, 2013
Use this menu to filter CBO's publications by topic. From January 2011 forward, all the agency's products are categorized by topic. Cost estimates released prior to the 112th Congress are not categorized by topic.